Nasdaq to pay $4 mn settlement over apparent Iran sanctions violations

Nasdaq Inc, the US stock exchange, has agreed to pay a $4 million settlement to the U.S. Department of Treasury over violations of sanctions against Iran by a former Nasdaq unit, the Department's Office of Foreign Assets Control (OFAC) said on Friday.

Nasdaq OMX Armenia provided services to Iran and Iran's state-owned Bank Mellat, it said.

"The settlement amount reflects OFAC's determination that Nasdaq's conduct was non-egregious and voluntarily self-disclosed," OFAC,  the financial intelligence and enforcement agency said.

The NYC-based stock exchange said in an emailed statement that the settlement acknowledged mitigating factors, including Nasdaq's voluntary disclosure of the transactions in 2014 and its sale of the Armenian subsidiary in 2018.

Nasdaq acquired the Armenian Stock Exchange, subsequently renamed Nasdaq OMX Armenia, when it acquired Swedish financial company OMX AB in February 2008.